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To: IngotWeTrust who wrote (3011)	7/11/1998 12:20:00 AM
From: James F. Hopkins	Respond to of 86076

Well there are all kinds of Derivatives, some are understandable, others the creators don't want you to know about, as they are written on things that don't and can never exist. An example is the forward sale of gold, equals about 100 times more than all the gold in the world. They are unregulated and are also used to laundry money from all types of criminal activity. It's one of the ways Drug Lords use to get their payments for big shipments. War on drugs is a joke we subsidies the Drug Lords and they laugh all the way to the bank. The only war going on there is for who controls the business. When Bankers talk you are given the impression that derivatives are some how based on currency..how ever what they don't say is that there are more derivatives outstanding than there is currency, and that the currency is based on them. It gets right back to the double speak, Bankers use, like were the "discount" points on a VA loan, is really a front end charge, that is placed on the loan, that the seller pays by jacking up the price of the home. What the buyer (sucker) is not told is that jacked up price is really the "discount charge" and is hot air that's folded into the loan , hence it's the last part paid off and the sucker paying on a VA loan is really paying interest on that so called "discount" for the 20 or 30 years; as that hot air in the price of the home is for all practical purposes the last thing paid off. ------------- When I explained this in a Class I was taking to get my Real Estate License the instructor got red in the face, as I did it in front of a Savings and Loan Flunky that came as a guest to lecture to to us about the plight and tribulations of the POOR LENDER I damm near got expelled. That was many years ago, when I concluded that the License was nothing more than a ticket certifying me to be a flunky for Bankers I never renewed. The crap rap they expect you to pull on the buyers made my skin crawl , I just wasn't cut out for it. Caveat emptor, to me meant we had an obligation to make the buyer aware. They use it more often than not as a sick excuse to shift the responsibility from the agent or broker to the buyer. The Code of Hammurabi , ( and they didn't tell us of the origins in school I decided to look that up myself ) 1792-1750 bc, It was based on regulations & guided by principles that the strong should not take unfair advantage of the weak, the old eye for an eye was a figure of speech and in it's original intention in prescribing penalties it is clear that it was used to express in their justice "NOT MORE" than an eye for an eye or tooth for a tooth. Also the caveat emptor "let the buyer beware" was meant to include full disclosure from seller to buyer..not an excuse to cover up the defects, or hide hidden charges called discounts , that some sucker would pay interest on for 30 years. Malfeasance could result in the death penalty...much was spelled out that even surpasses our present justice system. Taht in my opinion is now not much more than "justice for sale to the highest bidder" Jim